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SOURCE
In an attempt to protect consumers from problem gambling risks, the U.K. Gambling Commission has announced Monday that gambling on credit cards
“increases the risk that consumers will gamble more than they can afford” and it would “consider prohibiting or restricting the use of credit cards.”
The announcement was included in the regulator’s report on new online gambling safety measures. it also showed that profits in the online gambling industry jumped by
10% in 2017 to £4.7bn (USD 6.7), and more than 9 million Britons gamble online.
Campaigners have long called for restrictions to prevent people from using their credit cards to gamble. Carolyn Harris, a Labour MP who campaigns for safer gambling,
said: “The thought of credit card gambling terrifies me. Gambling debts already are a major concern not just for the individual, but for their family who pay the price of the consequences.
“Currently the focus is on the industry and we know big changes are coming. When we have campaigned so heavily to reduce stakes [on fixed-odds betting terminals],
to be anything other than critical of such credit card gambling would be unbelievable.”
The report said: “We will consider prohibiting or restricting the use of credit cards and the offering of credit but will explore the consequences of doing so.
For example the danger of some consumers switching to more risky and higher cost payment methods such as payday loans.”
Neil McArthur, the chief executive of the Gambling Commission, said: “The proposals we have announced today are intended to protect children better,
reduce the risks to vulnerable consumers and build on the measures we already impose on operators to know their customers and intervene at an earlier stage before consumers experience harm.”
In an attempt to protect consumers from problem gambling risks, the U.K. Gambling Commission has announced Monday that gambling on credit cards
“increases the risk that consumers will gamble more than they can afford” and it would “consider prohibiting or restricting the use of credit cards.”
The announcement was included in the regulator’s report on new online gambling safety measures. it also showed that profits in the online gambling industry jumped by
10% in 2017 to £4.7bn (USD 6.7), and more than 9 million Britons gamble online.
Campaigners have long called for restrictions to prevent people from using their credit cards to gamble. Carolyn Harris, a Labour MP who campaigns for safer gambling,
said: “The thought of credit card gambling terrifies me. Gambling debts already are a major concern not just for the individual, but for their family who pay the price of the consequences.
“Currently the focus is on the industry and we know big changes are coming. When we have campaigned so heavily to reduce stakes [on fixed-odds betting terminals],
to be anything other than critical of such credit card gambling would be unbelievable.”
The report said: “We will consider prohibiting or restricting the use of credit cards and the offering of credit but will explore the consequences of doing so.
For example the danger of some consumers switching to more risky and higher cost payment methods such as payday loans.”
Neil McArthur, the chief executive of the Gambling Commission, said: “The proposals we have announced today are intended to protect children better,
reduce the risks to vulnerable consumers and build on the measures we already impose on operators to know their customers and intervene at an earlier stage before consumers experience harm.”
